Homebuyer Programs in Cary, NC (2026)
Cary is one of the largest and fastest-growing towns in North Carolina, located in Wake County just west of Raleigh in the heart of the Research Triangle. With a median home price around $575,000, it is one of the more expensive markets in the state, making down payment assistance especially valuable for first-time buyers. While Cary does not currently offer a city-funded DPA program, and the Wake County Affordable Homeownership Program does not cover homes within Cary limits, buyers here can take advantage of powerful state programs. The NC 1st Home Advantage provides $15,000 in forgivable down payment assistance, the NC Home Advantage Mortgage offers up to 3% of the loan amount, and the Community Partners Loan Pool provides up to $30,000 as a zero-interest deferred second mortgage. Combining these programs, eligible Cary buyers could receive over $60,000 in total assistance toward their home purchase.
Top Homebuyer Programs in Cary
| Program Name | Type | Amount | First-Time Only | Details |
|---|---|---|---|---|
| FHA Loans | Government-Insured Mortgage | Up to FHA county loan limits ($541,287 floor to $1,249,125 ceiling for single-family in 2026) | No | View → |
| FHLBA Community Partners Product | Forgivable Loan | Up to $20,000 in home purchase assistance for down payment and closing costs | No | View → |
| FHLBA First Time Homebuyer Product | Forgivable Loan | Up to $17,500 in home purchase assistance for down payment and closing costs | Yes | View → |
| FHLBA Workforce Housing Plus+ | Forgivable Loan | Up to $15,000 in home purchase assistance for down payment and closing costs | No | View → |
| Good Neighbor Next Door (HUD) | Government Property Sale Program | 50% discount off the list price of HUD-owned homes | Yes | View → |
| Home Possible Mortgage (Freddie Mac) | Government-Guaranteed Mortgage | Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment | No | View → |
| HomeReady Mortgage (Fannie Mae) | Government-Guaranteed Mortgage | Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment | No | View → |
| HUD $100 Down Program | FHA-Financed HUD REO Purchase | Only $100 down payment required (vs. standard 3.5% FHA down payment). HUD may also pay up to 3% of buyer's closing costs. | No | View → |
| USDA Rural Development Loans | Government-Guaranteed Mortgage | 100% financing (no down payment required); loan amount up to appraised value | No | View → |
| VA Loans | Government-Guaranteed Mortgage | No loan limit for veterans with full entitlement (0% down at any price); partial entitlement subject to conforming limits ($832,750 standard in 2026) | No | View → |
| Habitat for Humanity of Wake County Homeownership | Zero-Interest Loan | Affordable below-market mortgage (Habitat builds/rehabilitates homes and sells at affordable prices) | Yes | View → |
| NACA Homebuyer Program | Zero-Interest Loan | No down payment, no closing costs, no fees, plus below-market interest rate mortgage | No | View → |
| Community Partners Loan Pool (CPLP) | Deferred Loan | Up to 25% of the sales price, maximum $50,000 | No | View → |
| NC 1st Home Advantage Down Payment | Forgivable Loan | $15,000 | Yes | View → |
| NC Home Advantage Mortgage | Deferred Loan | Up to 5% of the loan amount | No | View → |
| ReBuild NC Homeownership Assistance Program (HAP) | Forgivable Loan | Up to $30,000 in down payment assistance plus up to 5% of sales price for closing costs | Yes | View → |
| Self-Help Loan Pool (SHLP) | Zero-Interest Loan | Up to $50,000 (max $35,000 if home is within one of 24 CDBG Entitlement Cities in NC) | No | View → |
- Type:
- Government-Insured Mortgage
- Amount:
- Up to FHA county loan limits ($541,287 floor to $1,249,125 ceiling for single-family in 2026)
- First-time only:
- No
- Type:
- Forgivable Loan
- Amount:
- Up to $20,000 in home purchase assistance for down payment and closing costs
- First-time only:
- No
- Type:
- Forgivable Loan
- Amount:
- Up to $17,500 in home purchase assistance for down payment and closing costs
- First-time only:
- Yes
- Type:
- Forgivable Loan
- Amount:
- Up to $15,000 in home purchase assistance for down payment and closing costs
- First-time only:
- No
- Type:
- Government Property Sale Program
- Amount:
- 50% discount off the list price of HUD-owned homes
- First-time only:
- Yes
- Type:
- Government-Guaranteed Mortgage
- Amount:
- Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment
- First-time only:
- No
- Type:
- Government-Guaranteed Mortgage
- Amount:
- Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment
- First-time only:
- No
- Type:
- FHA-Financed HUD REO Purchase
- Amount:
- Only $100 down payment required (vs. standard 3.5% FHA down payment). HUD may also pay up to 3% of buyer's closing costs.
- First-time only:
- No
- Type:
- Government-Guaranteed Mortgage
- Amount:
- 100% financing (no down payment required); loan amount up to appraised value
- First-time only:
- No
- Type:
- Government-Guaranteed Mortgage
- Amount:
- No loan limit for veterans with full entitlement (0% down at any price); partial entitlement subject to conforming limits ($832,750 standard in 2026)
- First-time only:
- No
- Type:
- Zero-Interest Loan
- Amount:
- Affordable below-market mortgage (Habitat builds/rehabilitates homes and sells at affordable prices)
- First-time only:
- Yes
- Type:
- Zero-Interest Loan
- Amount:
- No down payment, no closing costs, no fees, plus below-market interest rate mortgage
- First-time only:
- No
- Type:
- Deferred Loan
- Amount:
- Up to 25% of the sales price, maximum $50,000
- First-time only:
- No
- Type:
- Forgivable Loan
- Amount:
- $15,000
- First-time only:
- Yes
- Type:
- Deferred Loan
- Amount:
- Up to 5% of the loan amount
- First-time only:
- No
- Type:
- Forgivable Loan
- Amount:
- Up to $30,000 in down payment assistance plus up to 5% of sales price for closing costs
- First-time only:
- Yes
- Type:
- Zero-Interest Loan
- Amount:
- Up to $50,000 (max $35,000 if home is within one of 24 CDBG Entitlement Cities in NC)
- First-time only:
- No
How to Apply
- Step 1:
Check your eligibility. State programs like NC 1st Home Advantage require household income at or below limits that vary by county and family size, a credit score of 640 or higher, and first-time buyer status (veterans may be exempt).
- Step 2:
Complete homebuyer education. DHIC offers an 8-hour Bringing Home the Dream workshop in the Raleigh-Cary area. Contact DHIC at (919) 832-4345 to register. This workshop is a prerequisite for many state down payment assistance programs.
- Step 3:
Get pre-approved with an NCHFA-approved lender. Visit NCHomeAdvantage.com for a list of participating lenders. Your lender will help determine which combination of the NC Home Advantage Mortgage, NC 1st Home Advantage, and Community Partners Loan Pool you qualify for.
- Step 4:
Explore the NACA Homebuyer Program. NACA offers no down payment, no closing costs, and below-market interest rate mortgages. Visit naca.com to attend a free homebuyer workshop and begin the qualification process.
- Step 5:
Find a home in Cary. There are no specific purchase price limits for state programs beyond standard FHA, VA, or USDA loan limits. With Cary's median home price of $575,000, ensure your pre-approval amount aligns with your target price range.
- Step 6:
Submit your applications. Apply for state DPA through your NCHFA-approved lender during the mortgage process. Processing timelines vary, so start early in your home search.